Stanphyl Capital December 2020 Commentary: Stocks Are Very Expensive

Stanphyl Capital commentary for the month of December 2020, discussing their porfolio holdings and that the stocks are very expensive.Q3 2020 hedge fund letters, conferences and moreFriends and Fellow Investors:For November 2020 the fund was up 6.2% net of all fees and expenses. By way of comparison, the S&P 500 was up 10.9% while the Russell 2000 was up 18.4%. Year-to-date 2020 the fund is down 12.7% while the S&P 500 is up 14.0% and the Russell 2000 is up 10.4%. Since inception on June 1, 2011 the fund is up 34.3% net while the S&P 500 is up 227.8% and the Russell 2000 is up 144.8%. Since in…

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HEDGE accordingly